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SBI PAT up 28% at ₹18K cr due to better asset quality
The New Indian Express
|November 09, 2024
Bank earned an interest income of ₹1.14 lakh crore, up 12.32% YoY
STATE BANK OF INDIA (SBI) on Friday reported a 28% year-on-year growth in net profit at ₹18,331 crore for the quarter ending September, driven by improved asset quality and higher credit sales, both of which the management led by new chairman C S Setty guided for better show in the next two quarters.
The country's largest lender had booked ₹14,330 crore of net profit in the year-ago period.
Setty, assumed office last month, said in the reporting quarter, the bank earned an interest income of ₹1.14 lakh crore, up 12.32% YoY, while net interest income grew at a lower pace of 5.37% YoY to ₹41,620 crore, from ₹39,500 crore in a year ago period.
This story is from the November 09, 2024 edition of The New Indian Express.
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